Nelson Company Experienced the Following Transactions During Year 1, Its

Multiple Choice

Nelson Company experienced the following transactions during Year 1, its first year in operation.Acquired $7,400 cash by issuing common stock.Provided $3,700 of services on account.Paid $1,950 cash for operating expenses.Collected $2,600 of cash from customers in partial settlement of its accounts receivable.Paid a $170 cash dividend to stockholders.What is the amount of net cash flows from operating activities that will be reported on the Year 1 statement of cash flows?

A) $1,750
B) $340
C) $1,580
D) $650